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Home | Knowledge Base Articles | Fixed Share of Profit Postings To Account Codes 470-479, Requires Double Entry to Account Code 998

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Fixed Share of Profit Postings To Account Codes 470-479, Requires Double Entry to Account Code 998

Article ID

kba-02077

Article Name

Created Date

6th March 2007

Product

Problem

If I have posted to account codes 470-479 on the EPST/EPSF charts, what account code should be used as the double entry account?

Resolution

When posting to Account codes 470-479, the double entry should be posted to account code 998. The Fixed Share of Profit will be added back to the Net Profit/Loss on the Current Account Schedule

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